Diese Seite verwendet Cookies. Durch die Nutzung unserer Seite erklären Sie sich damit einverstanden, dass wir Cookies setzen. Mehr erfahren
In Ihrem Webbrowser ist JavaScript deaktiviert. Um alle Funktionen dieser Website nutzen zu können, muss JavaScript aktiviert sein.
Suche
 

Foran Mining Executes Technical Services Agreement with Glencore Canada for McIlvenna Bay VMS Deposit - Video Available on Investmentpitch.com

06.12.2017  |  Newsfile

Vancouver, British Columbia--(Newsfile Corp. - December 6, 2017) - Foran Mining Corp. (TSXV: FOM), a copper-zinc exploration and development company with projects in the Flin Flon Greenstone Belt, has executed a Technical Services Agreement with Glencore Canada Corporation.

Under the agreement, Glencore will contribute its professional and technical services, assistance, guidance and advice towards completing a Feasibility Study of Foran's McIlvenna Bay Project.

InvestmentPitch Media has produced a "video" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Foran" in the search box.



Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_i1ngn98g/Foran-Mining-Corporation-TSXVFOM-Has-executed-a-Technical-Services-Agreement-with-Glencore-Canada-Corporation

Glencore will receive an exclusive off-take contract to purchase or toll process all the concentrates and/or other minerals produced from the Project at prevailing market rates. Within 60 days of execution of this Agreement, Glencore will finalise a comprehensive review of the Project which will serve as a basis for its approach to the Feasibility Study (the "Preliminary Work").

McIlvenna Bay, Foran's flagship deposit, located in east-central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba, is one of the largest underdeveloped VMS deposits in Canada. In November 2014, Foran announced a positive preliminary economic assessment for McIlvenna Bay, with an estimated pre-tax NPV @7%, of $382M ($263M after-tax) & 22% Internal Rate of Return (19% after-tax) at a US$ Zinc price of 1.06/lb. Spot Zinc price today is US$1.48/lb.

Patrick Soares, President and CEO, stated: "We are delighted to have Glencore, a world leader in the mining, smelting and marketing of zinc and copper, involved in the McIlvenna Bay Project. Their technical knowledge and expertise, gained from operating a broad spectrum of zinc and copper mines the world over, will be invaluable as we advance McIlvenna Bay towards a production decision. If an affirmative production decision is made, Foran will then have access to the most effective and safest mining methods for the Project. Foran will also continue exploration efforts on its other highly prospective targets in proximity to McIlvenna Bay."

In order to determine the need for and complete a Feasibility Study, an infill drilling program is required. Glencore and Foran will jointly design the program which would then be conducted by Foran's geological team. Assuming the Preliminary Work suggests an economically viable project, the parties will continue with the Feasibility Study. Foran's responsibilities include upgrading the current resources to reserves and all environmental and socioeconomic elements of the Feasibility Study.

Glencore would be responsible for all engineering and technical aspects of the Feasibility Study which is to be delivered nine months from the date of receiving the final assays from the infill drilling program. Glencore has agreed to assist Foran with the procurement of project financing in order to complete the development and placing of the Project into commercial production. They may also provide technical services while the mine is in construction and ramping up to commercial production.

Foran maintains full ownership of the Project and intends to concurrently advance exploration on its other high priority targets: Target A, Thunder Zone and Bigstone.

The shares are trading at $0.42 and with 99 million shares outstanding, the company is capitalized at $41.6 million.

For more information, please visit the company's website at www.foranmining.com, contact Patrick Soares, President & CEO, at 604-488-0008 or email ir@foranmining.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!



Minenprofile
"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"
In Ausübung dieses Rechtes wird allen Behörden, insbesondere Ämtern, juristischen Personen öffentlichen Rechts,
in dieser Weise beliehenen Personen und Anstalten öffentlichen Rechts der Zutritt zu unseren Netzseiten verboten!"

Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2017.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!